Sec 64(1a)

This query is : Resolved

Neethu Abraham (Querist)
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22 June 2012 (1)If an assessee transfers a house property to his minor child and that child is getting income from that property. is that income is clubbed in the hands of assesse?

(2)If an assessee transfers a house property to his major child and that child is getting income from that property. is that income is clubbed in the hands of assesse?

CA Siddhartha Bhardwaj

CA Siddhartha Bhardwaj (Expert)
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22 June 2012 1. If an individual transfers a house property to his minor child, Section 64(1A) is NOT applicable.

Section 27 is applicable and the individual is treated as the deemed owner of the house property.

2. If an individual transfers a house property to his major son, neither Section 27 nor clubbing provisions are applicable.

The income from such house property shall be taxable in the hands of the son only.